GAMMA Investing LLC increased its stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 16,255.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,407 shares of the industrial products company's stock after buying an additional 22,270 shares during the quarter. GAMMA Investing LLC owned 0.07% of AZZ worth $1,873,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE lifted its position in shares of AZZ by 39.0% during the 4th quarter. US Bancorp DE now owns 463 shares of the industrial products company's stock worth $38,000 after buying an additional 130 shares during the period. Smartleaf Asset Management LLC raised its position in AZZ by 202.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 318 shares during the last quarter. Farther Finance Advisors LLC raised its position in AZZ by 32.4% in the 4th quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 126 shares during the last quarter. Quarry LP raised its position in AZZ by 2,150.0% in the 4th quarter. Quarry LP now owns 855 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 817 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in AZZ by 35.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,298 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 341 shares during the last quarter. Institutional investors own 90.93% of the company's stock.
AZZ Trading Down 2.1%
Shares of NYSE AZZ traded down $1.92 during midday trading on Friday, hitting $89.36. The stock had a trading volume of 128,880 shares, compared to its average volume of 220,709. The company's 50-day simple moving average is $88.16 and its 200 day simple moving average is $88.43. The firm has a market cap of $2.68 billion, a P/E ratio of 60.38, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. AZZ Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $99.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26.
AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Monday, April 21st. The industrial products company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $351.88 million during the quarter, compared to analysts' expectations of $367.78 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. Research analysts anticipate that AZZ Inc. will post 5.13 EPS for the current year.
AZZ Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 24th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, April 24th. This represents a $0.68 annualized dividend and a dividend yield of 0.76%. AZZ's dividend payout ratio (DPR) is currently 42.77%.
Insider Activity
In related news, CEO Thomas E. Ferguson sold 18,851 shares of AZZ stock in a transaction on Monday, May 5th. The stock was sold at an average price of $89.91, for a total transaction of $1,694,893.41. Following the completion of the sale, the chief executive officer now directly owns 192,607 shares of the company's stock, valued at $17,317,295.37. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.77% of the company's stock.
Analyst Upgrades and Downgrades
AZZ has been the subject of several research analyst reports. Sidoti downgraded AZZ from a "buy" rating to a "neutral" rating and set a $101.00 price objective for the company. in a research report on Monday, June 9th. Noble Financial reiterated an "outperform" rating on shares of AZZ in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AZZ has an average rating of "Moderate Buy" and a consensus target price of $101.67.
View Our Latest Research Report on AZZ
About AZZ
(
Free Report)
AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.
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